The global dietary supplements market accounted for USD 111.34 billion in the year 2018 and is likely to witness a CAGR of 7.8% through 2019 to 2025. Factors such as increasing importance and awareness regarding the benefits of preventing a disease rather than putting efforts and money to cure the illness is majorly fueling the growth of global dietary supplements market over the forecast period. Furthermore, increasing importance of good health among the individuals owing to rising prevalence of various diseases, viruses, and illnesses affecting the way of living is contributing to the industry growth.
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Increasing number of gym subscriptions and fitness centers majorly in developed and developing economies is fueling the industry growth. Changing dietary habits of people, with rising focus towards eating healthy food, oil free, fat free and less spicy as well as availability of such food items in the market are propelling the market growth over the forecast duration. Moreover, rising consciousness about the weight and height owing to growth in social media platforms and several opportunities of showcasing themselves as well as awareness regarding the importance of healthy weight and body structure are positively impacting the growth of global dietary supplements market. Increasing cases of obesity and other illnesses among young population is increasing their interest towards the consumption of dietary supplements which is thereby increasing the product demand.
Also, growing urbanization, fast lifestyle of individuals; degrade in the quality of foods available in the market as well as high disposable income of the individuals is creating opportunities for the market growth. However, there are several challenges faced by the industry such as high prices of the supplements as well as complications regarding safety, labeling and efficacy may hamper the industry growth in coming years. Further rising prevalence of COVID-19 pandemic is creating opportunities for the industry growth in recent times.
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There is an increase in sale of dietary supplements due to growing consumer awareness regarding health issues and also due to rapid urbanization along with rise in disposable income which is expected to propel the market growth over the next few years. The rising prevalence of chronic diseases such as arthritis, cardiovascular problems, and diabetes and favorable outlook towards medical nutrition is expected to propel the product demand. Nowadays, fluctuations in diet intervals among working individuals coupled with the hectic work schedules has generated the need for nutrition from external sources such as dietary supplements, which is anticipated to bolster the market. Rising concerns over the adverse effects of conventional medicines including allopathic drugs and the demand for herbs for the prevention of mental as well as physical disorders are expected to promote the use of botanical extract as an ingredient for the production of dietary supplements over the next few years.
The global dietary supplements industry is highly competitive with low barriers to entry. The dietary supplements market is marked by the presence of several manufacturers moving towards new sales channels to expand their reach to a diverse and broad range of customers. Some of the leading industry players include ADM, Inc., Abbott Laboratories, Pfizer, Arkopharma Laboratories Pharmaceutiques, Carlyle Group, Amway, Glanbia Nutritionals, Bayer AG, Herbalife International, and GSK (GlaxoSmithKline).
Table of Content:
- Research Methodology
- Market outlook
- Dietary Supplements Market by Ingredients, 2017-2025 (USD Million)
- Dietary Supplements Market by Form, 2017-2025 (USD Million)
- Dietary Supplements Market by Users, 2017-2025 (USD Million)
- Dietary Supplements Market by Region, 2017-2025 (USD Million)
- Competitive Landscape
- Company profiles
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